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BABA - Why Shares of Alibaba TAL Education Group and Gaotu Techedu Are Falling Today
Alibaba Group Holding Limited American Depositary Shares each representing one
2023-06-20 15:51:54 ET
Most Chinese stocks fell today after Wall Street analysts lowered their estimates for China's economic growth prospects this year.
Shares of the large Chinese tech conglomerate Alibaba (NYSE: BABA) traded roughly 4.5% lower as of 3:21 p.m. ET today. Meanwhile, shares of the online tutoring company TAL Education Group (NYSE: TAL) traded more than 11% lower, while shares of another online tutoring company, Gaotu Techedu (NYSE: GOTU) , were down more than 15%.